October 08, 2008

TATA Power Q1 net up by 56%YoY

TATA Power Company has posted a net profit of INR 190 crore in April to June 2007 up by 56% YoY as against INR 122 crore during April to June 2006. Its EBITDA during April to June 2007 is INR 321 crore up by 7.3% YoY as against INR 299 crore during April to June 2006. Net sales are up by 10% YoY to INR 1,511.5 crore as against INR 1,368 crore and sales volume is up by 7% YoY.

The increase is due to increase rise in sales volume and an increase in operational efficiencies. It also benefited from the strong rupee, making a foreign exchange gain of INR 37.87 crore during the quarter arising out of exchange differences on borrowed funds and liabilities in foreign currencies.

Mr Prasad Menon MD of TATA Power Company, in a statement said that “The quarter reflects the company’s focus on robust financial performance through maximizing operational efficiencies both in the license area in Maharashtra and also our captive power plants in eastern India.”